Bandung Technology is a Singapore Exchange main board listed company. Epicsoft Asia, which is engaged in the distribution of interactive entertainment software, is a wholly-owned subsidiary of GCL Global Holdings, a Nasdaq stock market listed company.

Bandung Technology's stock price remained flat at 0.605 yuan on Tuesday, and no deal was reached.

The deadline for shareholders to accept the offer is July 2.

The independent director of Bandung Technology agrees with the view of the independent financial advisor and recommends shareholders to accept the acquisition offer.

Independent Financial Advisor believes that in the absence of other bids, the financial terms of this offer are generally fair and reasonable. This is due to the fact that the acquisition price is 60.8% higher than the final trading price before the announcement of the offer, 19.4% higher than the highest trading price in the previous decade, 36.7% higher than the NAV value per share, and low liquidity in stocks before the announcement of the offer.

Bandung Technology revealed on the evening of Tuesday (June 3) that it had issued a notice to shareholders, including the opinions of independent financial advisers Asian Corporate Advisors and independent directors of Bandung Technology.

Acquisitioner Epicsoft Asia Pte Ltd announced its acquisition offer on April 30, and if it acquires more than 90% stake, it will seek to delist computer hardware and accessories distributor Bandung Technology.

Therefore, the independent financial advisor recommends that the independent director recommend shareholders to accept the offer. In addition, considering that the stock's liquidity before the announcement (in terms of daily average trading volume and trading frequency), the offer provides shareholders with a realistic opportunity to cash in all their investments. Moreover, after the expiration of the non-guaranteed offer, the share price of Bandung Technology can remain at the current level (already slightly higher than the acquisition price). In addition, the acquirer has controlled more than 50% of the equity, and it is unlikely that other acquisition offers will occur.

Independent financial adviser believes that Ban Leong Technologies' acquisition offer is "fair and reasonable", and independent directors should recommend shareholders to accept the offer of RMB 0.6029 per share.